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BATS Cancels Its IPO After a Day of Glitches

13 点作者 twakefield大约 13 年前

3 条评论

twakefield大约 13 年前
Article includes a nice TL;DR<p>Thursday, @ 7:30 p.m. BATS prices its IPO at $16 a share, the low end of expected range. 6.3 million shares are priced.<p>Friday, 10:45 a.m.: BATS trading begins with trades occurring at BATS Exchange at $15:25, and seconds later trading stops due to technical issues.<p>10:48 a.m.: BATS says it is "investigating system issues" in all stock symbols between A and BFZZZ.<p>10:57: A trade on BATS in Apple shares sends stock falling 9.4% to $542.80. Trading halted.<p>11:02: Apple shares resume trading.<p>11:07: BATS declares "self help," an industry term meaning the exchange is having problems and other exchanges can stop routing orders to it.<p>11:14: BATS reopens trading of its stock and 1.2 million shares are executed at $15.25.<p>11:14: BATS shares route to Nasdaq and in seconds crash to pennies.<p>11:14: BATS shares halted.<p>11:53: BATS resolved issues regarding stocks with symbols A through BFZZZ.<p>11:55: "Self help" is revoked.<p>12:21 p.m.: BATS says it is cancelling all open orders in impacted stocks, and that trading would reopen for them at 12:50 p.m. It also says a "resume time" for its shares would be "communicated shortly."<p>12:41: BATS says it will restart trading of its shares at 1:20 p.m.<p>1:03: BATS says it will be "further delaying" trading of its stock.<p>3:10: BATS says its shares won't trade Friday.<p>3:42: BATS withdraws IPO.
doug1001大约 13 年前
remarkably this article was not from The Onion.
hollerith大约 13 年前
Maybe now that an IPO has failed because of software bugs, we will see a little more emphasis on QA.